Abu Dhabi, UAEThursday 23 January 2020

Indian business community's pride at Narendra Modi's visit to the UAE

Third visit lays foundation for greater cooperation between nations, business leaders say

Indian Prime Minister Narendra Modi makes use of the newly-launched RuPay card to buy sweets at Emirates Palace. Courtesy Indian Embassy
Indian Prime Minister Narendra Modi makes use of the newly-launched RuPay card to buy sweets at Emirates Palace. Courtesy Indian Embassy

Leading Indian business figures based in the UAE have hailed the visit of Narendra Modi as a sign of deepening ties between the two nations.

During Mr Modi's two-day tour, his third to the UAE as Prime Minister, he received the Order of Zayed and launched RuPay, an Indian equivalent to Mastercard and Visa, in the UAE.

“The Prime Minister’s third visit to UAE is a clear indication of the growing ties and bonds between the two countries, which is being showcased on the global platform,” said Dr Azad Moopen, chairman and managing director, Aster DM Healthcare.

“We are hopeful that this will lead to further strategic partnerships being formed in key economic sectors like infrastructure, energy, healthcare, tourism and education and defence that will also encourage direct investment from UAE businesses into India.”

Mr Modi met with members of the Indian business community on Saturday morning after he launched the Rupay card.

The card was introduced in 2012 as a lower-cost alternative to Visa and Mastercard in India.

Since then it has been adopted by 500 million people in India alone and has expanded to other countries including Singapore and the Maldives.

Dr Moopen said that trade and investment from UAE companies into India was expected to cross $100 billion by 2020.

“The launch of the RuPay also boost the financial independence and help the two million Indians who annually travel to UAE on an average, while connecting the payment network of both countries,” said Dr Moopen.

“I certainly envision that the existing synergies and the bonhomie between India and the UAE will help propel growth and prosperity for both countries.

“All of this would not have been possible without the visionary leaders of the two countries and the nurturing economic environment that they have built that supports growth.”

Nita Mathur, management consultant at, data analysts and artificial intelligence training company, Ambeone JLT said that Mr Modi receiving the Order of Zayed was a source of great pride for Indians.

“This moment signifies the shared vision and partnership both countries enjoy,” she said.

“Especially noteworthy are the recent shared commitments in the field of advanced science and technology such as space research and artificial intelligence.

“As a management professional I am impressed by Modi’s inclusive approach.”

Updated: August 24, 2019 04:17 PM